Associate Pricing Actuary

Job Description

This key role for the Americas Reinsurance pricing team will bring strong technical and relationship building skills to efficiently and accurately assess the risk and profitability of the Property non-Cat reinsurance portfolio.

This individual will participate in the reinsurance renewal process and partner closely with underwriting and Cat pricing teams both in the US and globally.

The primary responsibility of the role is to price property non-cat reinsurance treaties covering US exposures. The pricing exercise is a complex analytical process requiring technical expertise and judgement.

Cedent loss history, modelled results, market knowledge and individual account characteristics must be weighed to arrive at a final range of outcomes and point estimate of account profitability.

This process is ideally a collaboration between the pricer and the underwriter to establish a consistent and holistic view of the client and the reinsurance contract.

In addition, the individual will participate in projects to help shape and define the company’s view of risk in the region. This will involve research and analysis around the topics of economic trends, social inflation, and portfolio profitability monitoring.

This will be done collaboratively with experts in the team and stakeholders throughout the company including the Cat pricing team, reserving, underwriting, and business analytics.

Responsibilities

• Participate in the renewal pricing workflow process and ensure stakeholder needs (underwriters, business analysts, retro, accumulation) are met accurately and efficiently.
• Perform individual reinsurance deal pricing analyses and collaborate with underwriters to understand the client and form a view of risk.
• Participate in annual parameter studies and updates for Global pricing models.
• Participate in segment analyses, industry studies, and other various actuarial related projects and studies as needed.
• Collaborate closely with the natural catastrophe pricing team on topics of common interest, particularly pricing provisions and methodologies for convective storm and hurricane losses.
• Work with stakeholders globally to design automated and semi-automated processes to deliver our work product more efficiently.
• Implement tools, methods, and processes to allow low/medium risk reinsurance treaties to be priced and analyzed in a streamlined way.

Qualifications

• Minimum BS in Actuarial Science, Mathematics or Statistics.
• Masters’ Degree in Actuarial Science, Mathematics or Statistics preferred.
• ACAS or new FCAS preferred.
• Minimum 3 years of P&C actuarial experience.
• Reinsurance or large account pricing experience preferred.
• Knowledge of US property business including homeowners, commercial property, inland marine, industrial and energy exposures.
• Familiarity with CAT modelling principles and data structures beneficial.
• Good communication skills, able to structure an argument and explain complex issues simply.
• Team player.
• Strong technical and problem-solving skills.
• Strong background in statistical analysis a plus.
• Strong Excel skills required.
• Able to learn new data and digital tools as needed.
• Understand data capture, storage and analysis techniques, e.g. SQL, Python, R.

Pay range for roles performed in IL: $112,500-$137,500 base salary per year. Actual salaries may vary based on various factors including location, experience, role, and performance.

About us

As a leading global reinsurer, SCOR offers its clients a diversified and innovative range of reinsurance and insurance solutions and services to control and manage risk.

Working at SCOR means engaging with some of the best minds in the industry – actuaries, data scientists, underwriters, risk modelers, engineers, and many others – as we work together to find solutions to pressing challenges facing societies.

SCOR supports inclusion and the diversity of talents, and all positions are open to people with disabilities.